CSBS to Provide Most Sweeping Cybersecurity Training Program in State Regulators' History
Washington, D.C. – To combat growing cyber threats to the financial system, the Conference of State Bank Supervisors (CSBS) today announced a comprehensive cybersecurity program to train state bank and nonbank examiners. The program, approved by the CSBS Board of Directors earlier this month, represents an aggressive effort to respond to a national threat.
CSBS President and CEO John Ryan: “Cyberattacks are becoming more frequent and sophisticated. State regulators are acting to ensure the institutions they supervise are protected and prepared. This training will provide state examiners with knowledge and tools to better assess security controls protecting an institution’s systems and infrastructure."
The training will cover the latest best practices in IT and cybersecurity risk management. During training sessions conducted over the course of the next year, state examiners will study:
- How hackers attack financial institutions
- Cybersecurity best practices and common defense techniques
- Cybersecurity prevention practices, including how to reduce the impact of cyber attacks
- Investigation techniques
- The examiner’s role in cyber defense
- What to inspect, review and ask about during an IT-cyber examination
- How to review vulnerability scans
The program will be funded with proceeds from the National Mortgage Settlement, a 2012 settlement between state and federal regulators and large mortgage servicers concerning foreclosure practices.
Media Contact: Matt Longacre, email@example.com, 202-803-8091
The Conference of State Bank Supervisors (CSBS) is the national organization of bank regulators from all 50 states, American Samoa, District of Columbia, Guam, Puerto Rico and U.S. Virgin Islands. State regulators supervise roughly three-quarters of all U.S. banks and a variety of non-depository financial services. CSBS, on behalf of state regulators, also operates the Nationwide Multistate Licensing System to license and register non-depository financial service providers in the mortgage, money services businesses, consumer finance and debt industries.